Magyar Bancorp (NASDAQ:MGYR) Stock Crosses Above 200 Day Moving Average – What’s Next?

Magyar Bancorp, Inc. (NASDAQ:MGYR)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $17.87 and traded as high as $19.67. Magyar Bancorp shares last traded at $19.36, with a volume of 5,485 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Magyar Bancorp in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Magyar Bancorp has an average rating of “Hold”.

Magyar Bancorp Stock Performance

The firm has a market capitalization of $127.13 million, a price-to-earnings ratio of 10.41 and a beta of 0.24. The company has a 50-day moving average of $18.53 and a 200-day moving average of $17.88.

Magyar Bancorp (NASDAQ:MGYR) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.49 EPS for the quarter. Magyar Bancorp had a net margin of 18.89% and a return on equity of 9.59%. The firm had revenue of $10.25 million during the quarter.

Magyar Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, August 6th. Magyar Bancorp’s dividend payout ratio (DPR) is presently 21.39%.

Institutional Investors Weigh In On Magyar Bancorp

A number of institutional investors have recently modified their holdings of the business. Maltese Capital Management LLC lifted its holdings in Magyar Bancorp by 1.4% in the fourth quarter. Maltese Capital Management LLC now owns 242,553 shares of the bank’s stock worth $4,191,000 after acquiring an additional 3,453 shares during the last quarter. M3F Inc. boosted its stake in Magyar Bancorp by 1.3% in the first quarter. M3F Inc. now owns 283,894 shares of the bank’s stock valued at $4,914,000 after acquiring an additional 3,544 shares during the period. BlackRock Inc. bought a new position in shares of Magyar Bancorp during the second quarter valued at approximately $359,000. Corient Private Wealth LP bought a new position in shares of Magyar Bancorp during the second quarter valued at approximately $698,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Magyar Bancorp during the 4th quarter worth approximately $544,000. Institutional investors own 46.32% of the company’s stock.

About Magyar Bancorp

Magyar Bancorp, Inc is a bank holding company headquartered in Palos Hills, Illinois, that provides a range of commercial banking services through its subsidiary, Magyar Bank. Established to serve the financial needs of individuals and businesses in the Chicago suburbs, the company offers traditional banking products alongside specialized lending solutions. Magyar Bancorp’s operations focus on relationship banking, emphasizing personalized service and community engagement.

The company’s product suite includes deposit accounts such as checking, savings and money market accounts, as well as certificates of deposit.